Filing I-T returns back for salaries up to Rs 5 lakh/year

Business Line
Last minute rush for filing Income Tax returns at the special counters set up at Pragati Maidan, New Delhi. File Photo: Ramesh Sharma

New Delhi, July 22:

Salaried persons earning up to Rs 5 lakh a year will have to file income-tax returns for assessment year 2013-14, unlike in the past two years.

“…This year the facility for online filing of returns has been made user-friendly with the advantage of pre-filled return forms…

“Hence, the exemption provided during the last two years is not being extended for assessment year 2013-14,” a Finance Ministry release said on Monday.

In May, the Central Board of Direct Taxes, in a notification, had made e-filing of return compulsory for 2013-14 for persons having total assessable income over Rs 5 lakh.

It had exempted salaried employees with total income up to Rs 5 lakh, including income from ‘other sources’ up to Rs 10,000, from the requirement of filing return of income for assessment years 2011-12 and 2012-13, respectively.

XThese are paid-for links provided by Outbrain, and may or may not be relevant to the other content on this page. To find out more information about driving traffic to your content or to place this widget on your site, visit outbrain.com. You can read Outbrain's privacy and cookie policy here.